help... choosing a credit card company...

[JaySpec7]

I'm looking into applying for some credit cards to build up my credit... I was finally approved with one after destroying my credit back in 92' (the college years)...

I'm looking for a credit card that offers rewards and/or miles... since I will be travelling more and more (business), I want to rack up some miles... and of course credit...

Anyone have any recommendations? I've looked at a bunch of sites, but there are so many to choose from... I'm more in the range of requiring "fair" to "good" credit... I doubt I'd be approved for anything that requires "excellent" credit...

What do you have and what are the perks for having your card?

Thanks....

 

[PHOEN$X]

http://www.citibank.com/domain/redirect/cbna/products/cards.htm

Citi® Dividend Platinum Select® Card

Earn a full 5% cash back on supermarket, gas station and drugstore purchases and 1% on all other purchases, up to $300 a year.

(Be sure you read the fine print)

 

[NsXMas]

I have a United Mileage Visa. As the top elite traveller on United, I get the annual fee of $60 waived. But unless you spend some serious money on it, I think you can do better with other cards.

If I didn't go with a mileage card, I'd go with the rebate card mentioned above.

 

[JaySpec7]

Thanks for the responses... I'd love to try out for the Citi card.. but according to this site... you need excellent credit.. I dont' want to apply and get denied.. and have that as another inquiry on my credit report...

Anyone else?

 

[NSXWIND]

for starter I would suggest capital one. shouldn't be too hot to get approve, they gave me one when I was still in high school :biggrin:

 

[NsXMas]

Thanks for the responses... I'd love to try out for the Citi card.. but according to this site... you need excellent credit.. I dont' want to apply and get denied.. and have that as another inquiry on my credit report...

Anyone else?

Pardon me for being nosey. You have a really nice NSX, a 98 NSX-T. How did you afford such a nice NSX and a BMW X-5 without great credit?

I'm curious as how one can obtain such nice things without credit. If you don't want to answer just tell me so. Thanks. (and sorry for being so nosey).

 

[nsxsupra]

United mileage card.

Earn miles on everything you buy. Many ways to earn double miles.

I have saved at least $5000 in free flight tickets over the past 3 years. A must if you travel internationally frequently.

American Express is also great card to have.

 

[NSXWIND]

Pardon me for being nosey. You have a really nice NSX, a 98 NSX-T. How did you afford such a nice NSX and a BMW X-5 without great credit?

I'm curious as how one can obtain such nice things without credit. If you don't want to answer just tell me so. Thanks. (and sorry for being so nosey).

paid cash :biggrin:

 

[fannsx]

http://www.citibank.com/domain/redirect/cbna/products/cards.htm

Citi® Dividend Platinum Select® Card

Earn a full 5% cash back on supermarket, gas station and drugstore purchases and 1% on all other purchases, up to $300 a year.

(Be sure you read the fine print)

I have a Citi Dividend card too. I use it as a gas card.
The Chase Freedom has 1% return and no $300 cap.
If you travel a lot, than you need to see where do you travel to the most. Apply a visa from that airline.

 

[nsxtasy]

In many cases, cash rebates are going to be a better deal than airline mileage cards. It really depends on how much you fly, and where you fly.

For example, most of my travel is domestic, and I can usually get a round trip ticket anywhere I need to go for around $200, and when I pay for the ticket, I have my choice of airlines and flights. I would need to use anywhere from 25K to 50K miles to get the same ticket (from a specific airline) using a mileage award, which means spending $25-50K in credit card charges. With a card like the Chase Freedom Card or the Citi Dividend Select Card, I get 1 percent cash back on purchases (even more in certain stores from the latter), so spending that same $25-50K gives me $250-500 in cash (or more, to the extent that the purchases are in the 5 percent category with the Citi Dividend Card). Yes, IN CASH and right away - which is a lot better way to receive it than in mileage awards that may or may not be available for the flight you want at some point in the distant future.

Do the math and see what is the best deal for your particular situation.

 

[JaySpec7]

I looked at Capital One... I'm positive that I'd be approved for that... don't they usually offer cards to students... no credit/low credit... people? including secured credit...

I'm hearing Discover is a good card to have... with rewards and such..

 

[MJK]

I like the airline miles, but I tend to vacation overseas. I have a US Bank / Northwest Airlines Worldperks Visa and it is usually gets me there for free. Its a better deal for me. For domestic travel, I would probably take the cash too - espcially if you are close to Islip = southwest airlines = always cheap.

 

[JaySpec7]

Pardon me for being nosey. You have a really nice NSX, a 98 NSX-T. How did you afford such a nice NSX and a BMW X-5 without great credit?

I'm curious as how one can obtain such nice things without credit. If you don't want to answer just tell me so. Thanks. (and sorry for being so nosey).

Most everything since college has been cash... don't know how the hell I survived... as for cars... I started with my civic back in 96.. modded it... sold it later for more... got my RX-7.. modded it... sold it for more... got the NSX.. modded... will sell it for more... CarreraGT... OOPs.. getting ahead of myself!! I basically get a car a bit cheaper with minor problems.. fix and refresh everything plus add some mods..

So the NSX was mostly cash... the X5 was mostly cash... (my wife works too :wink: ).. my civic I got for a couple hundred bucks and my stock NSX wheels...


My credit isn't that bad... I managed to buy a house going on my 2nd refinance now... I just want to build up what I messed up during my College years at Embry Riddle in Daytona Beach, FL ...

 

[donwon]

I use western union pre-paid credit card. Works great. You dont even need a bank account.

 

[JaySpec7]

I'm shying away from Airline specific cards, since I don't travel the same airlines all the time... As far as travel... I usually travel for business and do not have a corporate card available... I wanted to use the card to pay for my travels and later have my company reimburse my expenses... Basically, using the company expenses on my next credit card...


couple of other questions...

What score do you consider excellent? good?

What is the best way to pay your credit card bill? in full every month? minimum? I recall hearing that creditors like you to pay minimum besides amex since it's more money for the creditor...


again... I do really appriciate your responses...

 

[NSXWIND]

couple of other questions...

What score do you consider excellent? good?

What is the best way to pay your credit card bill? in full every month? minimum? I recall hearing that creditors like you to pay minimum besides amex since it's more money for the creditor...


again... I do really appriciate your responses...

above 700 point should be consider good.

minimum payment helps build credit better than pay in full, but pay in full also put points to your record.

HTH

 

[NsXMas]

I'm shying away from Airline specific cards, since I don't travel the same airlines all the time... As far as travel... I usually travel for business and do not have a corporate card available... I wanted to use the card to pay for my travels and later have my company reimburse my expenses... Basically, using the company expenses on my next credit card...


couple of other questions...

What score do you consider excellent? good?

What is the best way to pay your credit card bill? in full every month? minimum? I recall hearing that creditors like you to pay minimum besides amex since it's more money for the creditor...


again... I do really appriciate your responses...

Always, always, always, always pay your card in full. The interest rate on cards are pretty high, and you'll get eaten alive if you only pay the minimum.

I have never ever paid interest on any of my credit cards. I'd rather sell my NSX / house before I'd do that.

The only interest I pay is mortgage/house equity type of loans, because it's tax deductible. Otherwise I pay cash for my cars, and I finance no depreciating assets. The only way I'll pay non-deductible interest is to acquire an appreciating asset.

 

[PsychDoc]

I agree with NSXWIND about Capital One. They actually pay YOU to use their credit card. After every $10k in purchases you can call an 800 number and they'll send you $100. You can also trade in the points for airline tickets, but I think the cash is the best deal.

You may already have it, but their number is (800)955-7070.

 

[steveny]

Many card companies have a limit as too how many points one can earn in a given period. I have several cards because of this. I charge everything every month. In any given month I spend between 20-40k on cards. I pay the balance off every month before any interest accrues. This gives me tons of cash back and free plane ticket for myself and several friends to travel together on a group vacation. Last year we went to the keys for a 10 day trip. All the plane tickets were paid for through my accumulation of miles. The hotel was paid for by someone else in the group through an accumulation of points on his cards. The rental car was free through the same method. The only thing we paid for was beer, food and boat rental. :biggrin:

 

[comquat1]

Chase has one that's just like the Citi Dividend platinum select except you get 5% at home inprovement stores too! I'm going to apply for that one soon as Citi caps you at $300 per year, I just about beat that ammount so I need a backup.
:biggrin:

chase ultimate cash reward
1-800-414-6100 offer Cj
No limit to how much you can earn.

 

[nkb]

I'm looking into applying for some credit cards to build up my credit... I was finally approved with one after destroying my credit back in 92' (the college years)...

Correct me if I'm wrong, but credit mishaps in 92 (13 years ago) will not be on your credit record anymore. I think even bankruptcies disappear after 7 years.

Now, if you don't have credit, that's a different issue, but you should not have bad credit from your college years, unless you continued being financially irresponsible.

 

[donwon]

Correct me if I'm wrong, but credit mishaps in 92 (13 years ago) will not be on your credit record anymore. I think even bankruptcies disappear after 7 years.

Now, if you don't have credit, that's a different issue, but you should not have bad credit from your college years, unless you continued being financially irresponsible.

you may be right.... but I have a few derragatory claims (late payments) on my credit report from back in 95 as well. It seems that if the creditor wishes to keep them active, it stays.